West Africa to get new currency in 2020

December 24, 2019 by Don Saint 0 Comments

A revamped common currency in West Africa known as the ECO will be launched in 2020, according to French President Emmanuel Macron.

The ECO is supposed to replace the CFA franc which is currently being used in eight west African countries and six countries in central Africa.

During a trip to Ivory Coast on Saturday, in cooperation with eight West African countries — Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo — Macron announced at a joint news conference with the Ivorian president that France is working towards loosening up the supervision of the currency.

Macron, speaking in Abidjan, the economic capital of Ivory Coast, described colonialism as a “grave mistake and a fault of the republic” according to a DW News report.

The move to drop the CFA franc is part of France’s plan to rebuild relations with its former African colonies.

“I wanted to engage France in a historic and ambitious reform of cooperation between the West African economic and monetary union and our country. We do it for African youth,” Macron wrote on his official Twitter page on Saturday.

– CNN

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PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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